Nothing much is going on this weekend. We are staying in, trying to not spend money and just enjoy some quite time.
Last night we went to N’s boss’ Christmas party and had fun, it was the first time I met all his coworkers since moving here. We weren’t out too late then we came home and had hot coco before bed.
I am feeling perfect these days and have been more active and present in day to day stuff, thank goodness the 2nd trimester is almost here. Smooth sailing is good!
The state of the economy is hitting home hard so that is something that is always on our minds. Personally we are doing okay but many others are going without utilities and are having to make some hard decisions about what is an isn’t a necessity right now. Things are really bad for many people and that makes me sad.
I am also sick of hearing about bailouts. I don’t even think I agree with them anymore, I mean there is so much wrong with these companies who are in trouble right now and isn’t the purpose of the free market system to let bad business practices result in bankruptcy?
I also see the huge impact that loosing all those jobs will bring but how will those bad decision makers and greedy CEO’s get what is coming to them if we just bail them out? Could the “big three” failure be exactly what the auto industry needs in the long run… It might be.
Bottom line is we are all hurting right now economically speaking. My mom refers to it as “circling the drain” and unfortunately some big changes are necessary in our lifestyles and ways of living in order to keep afloat. The thing is these can’t just be changes that are made and felt by the lower and middle class. As a society we need to change (even the rich and wealthy) and I just hope it happens soon, the longer this all takes the harder it is going to be.
“isn’t the purpose of the free market system to let bad business practices result in bankruptcy?”
exactamundo.
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I’d love to see no more bailouts… but I feel really sorry for all the non-executive members of those companies who will end up personally bankrupt because of somebody else’s poor decisions.
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Ha! Circling the drain. I like that. It’s what happens right before we get the final flush down the toilet. Marie’s point is very sharp and very good. I don’t understand why we don’t just allow them to fail. What do we learn if we don’t allow them to fail? Nothing. And nothing gets better. This whole thing makes me mad.
It’s going to hit the middle class the hardest. But, living in a community with a GM plant and its accompanying UAW, the only way I can put the total blame for the impending bankruptcy (which will happen even if they are “bailed out”) is to blame the management for letting the union walk all over them.
After my husband retired from the military, he went back to work as a pipefitter, which he’d done with his father and brother before he joined the Marines. He joined the UA – United Association, union which covers pipefitters, steamfitters, welders, and plumbers.
These construction trades were often needed at the local GM plant, and my husband and brother came to completely despise the “average” UAW worker. Not only were few skills required, but not much work was required either. The UAW workers got in their way (a dangerous thing to do) and made life generally miserable for the construction workers.
So… I have less sympathy for the UAW workers than I perhaps should.
btw, for comparison – a pipefitter undergoes a 3-5 year apprenticeship which includes classroom training, lab training, and on-the-job training with an experienced pipefitter. They are highly skilled. And welders are even more highly skilled, as the welding knowledge is generally on top of the pipefitting knowledge.
As for plumbers, well… ymmv 🙂
Sorry for taking up so much space. I’ll surrender the soapbox back to the blog owner!
Donna B.s last blog post..Pearl Harbor
Donna B. » No please, soapbox one Donna! I surely don’t know everything there is to know and you raise a very interesting point that I never really dove in to.
All points of view and rants are welcome here. It makes me more educated ;-P
Hyphen Mama »
Yeah it is too bad that so many little guys would suffer as a result of those bad decisions but at the same time those greedy execs don;t deserve to go on sitting pretty. They messed up big time. And when are the auto makers going to start paying attention to what the people want? Make hybrid cars that we can all afford!
Thanks Talina. I likely have a skewed point of view as it is informed by my husband’s and children’s military service, my father’s 50 years of being self-employed, and my own contrariness. Thanks for listening to me!
Donna B.s last blog post..Pearl Harbor
As one of those executives who is now out of a 16-year-career because of bank mergers and failing economies, I have to point out that the auto companies are in the position they’re in because of people’s inability to buy cars because banks and mortgage companies allowed people to overextend themselves.
If the government agrees that the banks deserve to be bailed out, then the auto companies (whose employment is FAR beyond the manufacturing plants – think Blue Cross/Blue Shield that handles their benefits; think contracting & temporary agencies that provide services to the companies; think the creditors’ employees…etc.)certainly deserve a loan and the opportunity to restructure themselves.
Put all of those people out of work, and believe me…it’s a far larger problem than just autoworkers being out of work.
Of course, the fact that I live in Michigan and don’t necessarily need to try to find a new career with OTHERS out of work, too, may have something to do with my viewpoint (so I’ll add that disclaimer).
I’m not saying just to hand over a blank check, but with the APPROPRIATE oversight (which the bank’s don’t currently have), I believe there are more benefits to keeping the Big Three solvent than to allowing them to declare bankruptcy.
Now I’ll go away. 😉
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Ree » Yep, they key is “with the APPROPRIATE oversight (which the bank’s don’t currently have)”… I think that is the part that makes us all so mad about the bank bailout and thus pissy about the auto bailout.
Ugh.
I’ve learned more about the auto industry in the past two weeks than I probably have in my whole life! I didn’t realize that furloughed UAW workers get 4 years of pay for not doing a darn thing. How do you get laid off and then get paid for the next 4 years? That’s just not a realistic expectation and I feel sorry for the damn corporations that are having to deal with that. I can understand 6 months or maybe a year worth of pay but not any more than that. The Toyota plant in southern Indiana has temporarily halted production on some of its models. The employees are still getting paid but their out in the community working, doing community service activities to continue receiving those benefits.
While I hate the idea of another bailout I also hate the idea of how far spreading the impact would be if the “Big 3” are allowed to fail. Think about all the little auto parts suppliers that would go under. If the government does help, I think there needs to be some stern limits set and some motivation for these companies to get more fuel efficient. I also want some guarantees that these people aren’t going to be back in 6 months asking for billions more in federal funds.
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N » and that they are going to spend wisely with that money. Huge CEO salaries that are 100’s of times larger than the average workers salary are just insane especially if you are begging for money. Those jets and the cushy perks for being a leader of the company need to be the first things cut when ANY company gets in to trouble. I don’t want my tax money going towords that at all!
N — having owned stock in Ford until about a year ago, I have to disagree. The Big Three have been in financial trouble for years. If I thought they wouldn’t be back in 6 months asking for billions more, I’d be much more in favor of the bailout.
However, the only guarantee that they won’t be back is for them to go bankrupt now. I really do think that is their only hope to restructure and become sound businesses again.
Ree — I agree that the credit freeze put the auto makers over the edge, but they got to the edge by themselves.
Donna B.s last blog post..Pearl Harbor
I don’t think a bailout is appropriate for every corporation that is going under. What I would like to see is an accounting firm going in and doing a thorough audit of the books. Just how big are the bonuses the executives are getting? What kind of “luxuries” are being written off? That being said, my husband is an electrical designer, and he works for a company that makes after market and OE parts for GM vehicles. If he loses his job, we are screwed.
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Perhaps you are sad! We agree that in turmoil situations of economy we should be cautious and plan our life which we can do at our best. Hope such situations will end soon and you will have fearless life.
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